An estimated US$185 billion in potential capital investment in the U.S. petrochemical sector is expected for 310 projects under construction or planned, according to the American Chemistry Council.
The figures are based on forecasts as of mid- 2017 and suggest growth in demand for the breakbulk sector will continue, even as a first wave of major petrochemical projects based on the shale gas boom now reach their final stages of production.
“Much of the investment is geared toward export markets for chemistry and plastics products, which can improve the nation’s trade balance. Fully 62 percent of the announced investment is by firms based outside the U.S.,” the ACC states.
The projections mark a significant improvement from the 97 projects and $72 billion in potential capital investment recorded in 2013.
Photo: U.S Gulf Coast Petrochemical plant. Credit: Shell